(1) [deleted]
(1A) [deleted]
(2) If the FCA proposes to refuse to approve a prospectus, it must give the applicant written notice.
(3) The notice must state the FCA's reasons for the proposed refusal.
(4) If the FCA decides to refuse to approve a prospectus, it must give the applicant written notice.
(5) The notice must -
(a) give the FCA's reasons for refusing the application; and
(b) inform the applicant of his right to refer the matter to the Tribunal.
(6) If the FCA refuses to approve a prospectus, the applicant may refer the matter to the Tribunal.
(7) In this section "prospectus" includes a supplementary prospectus.